Vonage has settled a patent lawsuit brought by Verizon Communications Inc. for an amount yet to be determined but not in excess of $120 million. Vonage already has put $88 million in escrow and the settlement caps any payouts Vonage will make on top of that amount at $32 million. Having settled a suit filed by Sprint, and nearing closure on the Verizon patent infringement lawsuit, Vonage still faces a patent lawsuit filed by at&t. The Verizon settlement is the third Vonage has had to make so far.
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